The growth in the residential real estate market in Tamil Nadu has been largely driven by rising disposable incomes, a rapidly growing middle class, heightened customer expectations, increased urbanisation and the growing number of nuclear families. Keeping the above factors in mind, Ramky Wavoo Developers (RWD) has promoted Atlantis, a premium residential cum Grade A office space complex on Nelson Manickam Road here in the city.
“With the objective of being aggressive in the Tamil Nadu real estate market, we expect to achieve a top-line of `120 crore this year. This joint venture will help us achieve Rs 250 crore the following year and by 2015, our target is to hit a turnover of `500 crore. We are also looking to expand to tier II cities,” said Habib W S, managing director, RWD. The company expects a minimum turnover of Rs 500 - 600 crore in the next three years. RWD is expected to clock a turnover of `120 crore for the year 2012-13 with a matching cash inflow. Within easy reach of employment hubs, educational institutions, entertainment centres and shopping malls, Atlantis has modern design, luxury and eco-friendly values. Spacious and splendidly appointed, this 14-floor complex boasts of three floors for parking, four floors for Grade A office space and 42 luxurious island apartments in two, three and four bedroom configurations.
“A conventional parking system has been adopted and utmost care has been taken to avoid mixing of zones. Residential entry has a boom barrier which allows only the residents. It has been planned in a manner that will allow free flow of vehicles in and out of the building,” Habib said.
Atlantis has 42 apartments with seven units on each floor. The apartment sizes range from 1,338 sq ft to 2,091 sq ft with two, three and four BHK. Priced at Rs 12,500 per sq ft with a special launch price of Rs 12,000, the project will be completed by November 2013.